DUBAI, June 19 Turkish participation bank Kuveyt
Turk has set final pricing guidance ahead of issuing a five-year
benchmark-sized sukuk later on Thursday, a document from lead
Final guidance has been given at 350 basis points, plus or
minus 10 basis points, over midswaps. This is tighter than the
initial pricing thoughts in the area of 375 bps over the same
benchmark given on Wednesday.
The bank has garnered orders worth more than $2.25 billion
so far, the document added.
Benchmark sized is traditionally understood to mean in
excess of $500 million.
The banks arranging the transaction are Citigroup,
Emirates NBD, HSBC, Kuwait Finance House
and Standard Chartered.
(Reporting by Archana Narayanan; Editing by David French)